Commercial Bank of Ethiopia Earned ETB 12.9 Billion Profit Before Tax in the Last Six Months

CBE reported that they had gained almost 13 billion ETB profit before tax in the past six months. The bank’s president, Ato Abe Sano, was very proud to report the bank’s increasing profit compared to last year’s report.

“The Bank has gained nearly 13 billion birr profit before tax in just half a year, exceeding last year by 15.6%”. Ato Abe Sano continued, “Our plan for this year’s profit for the first six months was 12.65 billion ETB, and our profit increased our goal by 15.6% and is now 12.96 billion.”

CBE made 179 million ETB transactions last year

CBE worked hard to increase the usage of digital and debit cards. Last year 179 million ETB transactions were made through the bank’s digital option, according to the bank’s president. This half year, the transactions increased by 105% and have made 365.6 million ETB transactions.

Regarding transactions, CBE also collected foreign exports that amounted to 1.7 billion ETB. The foreign exports increased by 147 million ETB from last year’s annual report. This remittance mainly came from hotels, Ethiopian airlines, and electric bills. The remittance increased the set goal by 1.5%.

The bank also gained 2.2 million new customers in the last six months, which explains the rise in their profit in just six months. What a half year!